Dynamic security enhancement in power-market systems

Summary form only given as follows. The work presented in this paper describes a scheme for rescheduling pool generation and adjusting contract-transactions for dynamic security enhancement when necessary, using a power market auction mechanism. The procedure is based on the transient energy margin concept, which is estimated using the corrected hybrid method of transient stability analysis. This index is selected because of useful linearity properties which it possesses with respect to certain important problem control variables. The proposed scheme brings together both technical and economic considerations and the procedure is illustrated using the New England System data set.